OPEC+ cuts 2022 oil demand growth forecast slightly to 5.7M bpd – Reuters

Dhwani Mehta FXStreet

The Joint Technical Committee (JTC) of OPEC and its allies (OPEC+) cut 2022 oil demand growth outlook slightly to 5.7 million barrels per day (bpd), Reuters reports, citing sources familiar with the matter.

The sources added that the committee left their 2021 oil demand growth forecast steady at 4.2 million bpd.

Market reaction

WTI is little affected by above the report, keeping its range just below $83 so far this Friday.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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